About this work
Import compression was reshaping emerging markets’ external balances during the pandemic. Jonathan Fortun and Sergi Lanau compare trade trends in the first half of 2020 and find imports falling sharply enough to outweigh export losses in almost every country examined. Their July assessment anticipates the disappearance of current account deficits through this crisis adjustment.
Abstract
Import compression was reshaping emerging markets’ external balances during the pandemic. Jonathan Fortun and Sergi Lanau compare trade trends in the first half of 2020 and find imports falling sharply enough to outweigh export losses in almost every country examined. Their July assessment anticipates the disappearance of current account deficits through this crisis adjustment.
Cite this work
Jonathan Fortun, Sergi Lanau (2020). Economic Views: EM External Adjustment under COVID-19. Institute of International Finance.